one of my accounts isn't reporting right

[Anonymous]

idk how long this will be so beware. i hate reading long ones and if you're that way that's fine but please don't just skim.

so i have an account (installment loan) i opened 08/2011 and the last activity reported was 06/2013 but it shows it's still opened even though it stopped actively reporting. (it was only a 24 month installment loan so it's definitely done with) but it's reporting a balance of $169.

i have contacted that credit union about it and they told me that they had changed systems around that time and that was a common occurrence based on that and they said they'd close it a few months ago and still haven't. i do know that in order to get it closed i need to call the credit bureaus at this point but my question is... should i?
is it potentially hurting me you think? or does it have no affect... help me out here please

[Open123]

If the balance has been paid and if you have a receipt, you can try to contact the original creditor advise them the balance has been paid.  If it's a reporting error, you can contact the CRAs, and submit documentation showing they are reporting it in error.

[Anonymous]

yeah but i was wondering if it's helping or hurting lol if it's helping i will just leave it as-is..

[Open123]

---

@Anonymous wrote:
yeah but i was wondering if it's helping or hurting lol if it's helping i will just leave it as-is..

---

Ah, if it isn't reporting late or as a derog, then it shouldn't hurt.  However, if the balance has been paid, I'd contact them and have it updated.

[Anonymous]

yeah i probably need to

[RobertEG]

It is the creditor's resonsibility under the requirment of FCRA 623(a)(2) to have promptly udated their reporting when and as necessary to maintain its current accuracy.

If an informal call to them does not result in update in their next regular reporting cycle, I would send a direct dispute to the creditor, compelling correction within 30 days.

[Anonymous]

it's been over 30 days since i called and i do understand it's their responsibility to change it but my main question is is it hurting or helping lol

[Revelate]

---

@Anonymous wrote:
it's been over 30 days since i called and i do understand it's their responsibility to change it but my main question is is it hurting or helping lol

---

Still reporting open $163 on an original balance of what 4Kish?  Still getting pretty OK's every month on the bureau's data?

No way in hell I'd let them know... unless I was applying for a mortgage and needed it cleared off for DTI purposes.  That's a purty tradeline FICO wise .  

[Anonymous]

shows the last "up-to-date" reporting is 08/2013 but it's not negative reporting or anything.

[Open123]

---

@Revelate wrote:

---

@Anonymous wrote:
it's been over 30 days since i called and i do understand it's their responsibility to change it but my main question is is it hurting or helping lol

---

Still reporting open $163 on an original balance of what 4Kish?  Still getting pretty OK's every month on the bureau's data?

No way in hell I'd let them know... unless I was applying for a mortgage and needed it cleared off for DTI purposes.  That's a purty tradeline FICO wise .  

---

Can't believed I missed that nuance!  Go with this!